First Capital Advisors Group LLC. trimmed its holdings in shares of DCP Midstream, LP (NYSE:DCP – Get Rating) by 53.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,889 shares of the pipeline company's stock after selling 19,589 shares during the period. First Capital Advisors Group LLC.'s holdings in DCP Midstream were worth $567,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of DCP. Securian Asset Management Inc. grew its holdings in DCP Midstream by 3.4% in the 1st quarter. Securian Asset Management Inc. now owns 142,849 shares of the pipeline company's stock worth $4,794,000 after acquiring an additional 4,700 shares during the last quarter. Wealth Alliance purchased a new stake in DCP Midstream in the 1st quarter worth $234,000. SG Americas Securities LLC grew its position in shares of DCP Midstream by 9.8% during the first quarter. SG Americas Securities LLC now owns 22,161 shares of the pipeline company's stock valued at $744,000 after purchasing an additional 1,974 shares in the last quarter. Eagle Global Advisors LLC grew its position in shares of DCP Midstream by 18.6% during the first quarter. Eagle Global Advisors LLC now owns 654,106 shares of the pipeline company's stock valued at $21,952,000 after purchasing an additional 102,436 shares in the last quarter. Finally, Albert D Mason Inc. purchased a new position in shares of DCP Midstream during the first quarter valued at about $202,000. 35.49% of the stock is currently owned by institutional investors.
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Insider Activity
In other news, Director Clifford Todd Denton sold 2,750 shares of the firm's stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $39.23, for a total value of $107,882.50. Following the completion of the transaction, the director now owns 2,750 shares of the company's stock, valued at $107,882.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.10% of the company's stock.
DCP Midstream Price Performance
DCP traded up $0.32 during midday trading on Monday, hitting $38.91. 42,422 shares of the company traded hands, compared to its average volume of 670,552. DCP Midstream, LP has a 52-week low of $23.58 and a 52-week high of $39.54. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 10.40 and a beta of 2.75. The business has a 50 day simple moving average of $34.26 and a two-hundred day simple moving average of $33.88. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.
DCP Midstream Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Thursday, July 28th. DCP Midstream's payout ratio is 46.36%.
Analysts Set New Price Targets
Several research analysts recently commented on the company. Barclays lifted their price target on DCP Midstream from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 16th. Mizuho lifted their price target on DCP Midstream from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, August 4th. Royal Bank of Canada downgraded shares of DCP Midstream from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $41.00 to $38.00 in a research note on Thursday, August 18th. Finally, StockNews.com cut DCP Midstream from a "strong-buy" rating to a "buy" rating in a report on Friday, August 19th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $38.88.
DCP Midstream Company Profile
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DCP Midstream, LP, together with its subsidiaries, owns, operates, acquires, and develops a portfolio of midstream energy assets in the United States. The company operates through Logistics and Marketing, and Gathering and Processing. The Logistics and Marketing segment engages in transporting, trading, marketing, and storing natural gas and natural gas liquids (NGLs); and fractionating NGLs.
Further Reading
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